Submersible Pumps

Global Submersible Pumps Market to Reach US$13.6 Billion by 2030

The global market for Submersible Pumps estimated at US$12.4 Billion in the year 2024, is expected to reach US$13.6 Billion by 2030, growing at a CAGR of 1.6% over the analysis period 2024-2030. Bore-Well, one of the segments analyzed in the report, is expected to record a 2.1% CAGR and reach US$10.0 Billion by the end of the analysis period. Growth in the Open-Well segment is estimated at 0.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.3 Billion While China is Forecast to Grow at 3.7% CAGR

The Submersible Pumps market in the U.S. is estimated at US$3.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2030 trailing a CAGR of 3.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.1% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.0% CAGR.

Global Submersible Pumps Market - Key Trends and Drivers Summarized

Why Are Submersible Pumps Essential in Industrial and Agricultural Applications?

Submersible pumps are indispensable in various sectors, including agriculture, water management, and oil and gas industries, due to their ability to operate underwater without mechanical damage. These pumps are primarily used for dewatering, sewage handling, drainage, and groundwater extraction. In the agriculture sector, submersible pumps are critical for irrigation, helping to efficiently transfer water from underground sources to fields. In industries like mining and construction, these pumps help in draining water from deep pits and basements. The need for reliable, durable, and energy-efficient water management solutions is driving the adoption of submersible pumps across these sectors.

How Are Technological Advancements Shaping the Submersible Pumps Market?

Technological innovations are making submersible pumps more energy-efficient and easier to maintain. The development of corrosion-resistant materials is enhancing the durability of these pumps in harsh environments, such as those encountered in mining or oil extraction operations. Additionally, smart monitoring systems, powered by IoT (Internet of Things), are becoming increasingly integrated into submersible pumps, allowing operators to track performance and detect malfunctions in real time. Solar-powered submersible pumps are gaining popularity, especially in regions with limited access to reliable electricity, offering a more sustainable solution for water management. The combination of improved energy efficiency, automation, and sustainability is shaping the future of this market.

Which Segments Are Leading the Demand for Submersible Pumps?

Product types include borewell submersible pumps, openwell submersible pumps, and non-clog submersible pumps, with borewell submersible pumps being the most widely used due to their efficiency in deep-water applications. Key application areas include agriculture, water and wastewater treatment, construction, and oil and gas, with agriculture accounting for the largest market share due to the critical need for irrigation systems. End-users include farmers, municipal water management authorities, and industrial sectors such as mining and oil extraction. Asia-Pacific leads the market in terms of demand, driven by the region’s agriculture-dependent economies and rapid infrastructure development.

What Is Driving the Growth of the Submersible Pump Market?

The growth in the submersible pump market is driven by several factors, including increasing demand for efficient water management solutions, technological advancements in energy-efficient and durable pumps, and the growing need for reliable irrigation systems in agriculture. The rise of infrastructure projects, particularly in emerging markets, is pushing the demand for submersible pumps in the construction and wastewater management sectors. The adoption of solar-powered submersible pumps in off-grid regions is contributing to market expansion, while smart monitoring systems are improving operational efficiency and reducing downtime. Additionally, stricter environmental regulations and the focus on sustainability are creating opportunities for the development of eco-friendly submersible pump solutions.

SCOPE OF STUDY:

The report analyzes the Submersible Pumps market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Bore-Well, Open-Well); Application (Industrial, Agricultural, Domestic); End-Use (Water & Wastewater, Mining & Construction, Energy & Power, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 27 Featured) -

• Atlas Copco Group AB
• EBARA Corporation
• Flowserve Corporation
• General Electric Company
• Halliburton
• Itt Goulds Pumps
• Sulzer Ltd.
• The Gorman-Rupp Company
• Toyo Denki Industrial Co., Ltd.
• Tsurumi Manufacturing Co., Ltd.
• Walrus Pump Co., Ltd.
• WILO SE
• Xylem, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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